Question 1

Can bankruptcy help stop foreclosure?

Accepted Answer

Yes, bankruptcy can help stop foreclosure proceedings. The automatic stay that goes into effect once a bankruptcy is filed can halt a foreclosure and provide the client with time to work out a solution with their lender.

Question 2

What assets can I keep in bankruptcy?

Accepted Answer

Bankruptcy allows individuals to keep certain assets, such as a primary residence, vehicle, household goods, and retirement accounts. The specific assets that can be protected depend on the bankruptcy chapter filed and the state's exemption laws.

Law Offices of Scott R Schneider PC

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Can bankruptcy help stop foreclosure?

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